Capital gain on transfer of capital asset by a partner to a firm or by a member to AOP or BOI-Section 45(3) History: The Supreme Court in Kartikeya V Sarabhai v CIT (1985) 156 ITR 509 held that where an assessee contributed his individual assets into that of a firm in which he was a partner by way of capital, …
Contribution of capital assets by a Partner or Member to Firm or AOP or BOI
